New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-18
EFFORTS OF NETWORK PoLICY.HoLDERs
A HEARING YESTERDAY BEFORE REFEREE BOWERS

| A HEARING YESTERDAY BEFORE REFEREE BOWERS
SEEMING THE ASSETS IN THIS STATE
The struggle OF the NewYork policy holders in the
Charter Oak Life Insurance Company against Yankee
'cueress Connecticut finally to focus yester-
day in the Office OF John NJ Bowers appointed referee
under an of the Supreme Court take testimony
and report the condition OF the companys affairs in
this Ever since the defacaOn and flight OF George
NJ Bartholomew, who short $4,000 in his
accounts, there has been "nip-and-tuck" fight be-
tween the Connecticut receivers, Edmund A. sted
man and Isaac w. Burks, the
hand, and George g. studweli, tho trus-
tee of the interests Of the policyholders in this
State and General Louis Fitzgerald the receiver here,
on the other. The studwell family OF Brooklyn. have
policy holders in the Charter Oak for generations,
and therefore taken deep interest in its welfare
George g. Stud1e after the flight OF Bartholomew, dis
covered that the company had good deal OF property In
this state and them the theory that man in debt
In this State having receiver awaiting his arrival In
another state bound to give up his property IN this
state for the benefit OF his creditors here when caught
called upon all pocyhoders in this State to unite with
him TO oppose the Connecticut receivers, who
wished to get hold OF the Ncw-York property
and distribute IL among all creditors OF the
company throughout the Union.
General Louis Fitzgerald appointed receiver Of the
property State and hearing In the matter
ferred to Mr Bowers No proceedings have been taken
in this reference for some time owing to the attempt
the Connecticut receivers to remove the case to the
United states court in which attempt they were sue
cessful duly filing their bond In that court 1t is
mildly suggested by Mr. studwell that as the Hartford
had been successful in like attempts reference
to property In other States, they looked for Ike happy
result In this instance But they were check
mated through the activity OF Charles f. MaoLean.
representing Receiver Fitzgerald and Attorney
O'Bricn and j. Henry Work appearing for Mr..
TO the State court, in which argument was made by
Messrs MacLean and Work, resulted In decision Few
DAYS ago from Judge Wallace In the United states court
ia which he granted the order to send the case Dack 10
the State court. -,
The obstacles to the reference being thus removed the
hearing begun yesterday at pm before Mr owers;
at No 81 Wilamst Tho Attorney General and General
Fitzgerald were represented by Mr. MacLean the Con
neccut receivers by Mr. Gross the Charter OAK by Al
exander d Green and Mr.. Studwcll policy holder
and the assignee OF the NewYork polcy-holdersi ny
Mr. Work After some preliminary inquiries
the referee sworn in and Mr. MacLean made
short OF the character and condition OF tho
property In this state showing that 1t consisted In tho
main of real estate producing large rentals ana between
So 600 and SO 900 In cash hand In response To IN
Guiries and suggestions from Mr. Work, Mr.. MacLean
promised TO furnish add details showing the re-
ccvers accounts for the frat six months MI. Gross
MAIDS short statement giving history OF the proceed
ngs growing out Of tho insolvency OF the company In
the different He proposed TO submit at tho next
hearing detailed statement IN behalf OF the company
and the Connecticut receivers showing the legal history
OF the company its assets and liabilities compromising
all the material necessary enable the referee and tho
courts this state pass the question OF dsposing OF
the c0mpanys assets aud the rights or all IN interest lie
urged that tho this state should be turned 10
tina Connecticut receivers for distribution among all the
policy holders. The view Ia advanced on the other side
that York policy should first be satsusd
as far = possible from thu assets here.
The hearing was adjourned until July 1.